What are Living Benefits?
In most cases, the main benefit of life insurance is a payout to your family when you pass away so that they can pay for everyday expenses, the mortgage, your funeral expenses and more.
Some policies offer benefits you can use while you're still living, which is why we call them "living benefits". Some of these benefits are automatically included with your policy, while others are options you can add to your policy.
In addition to the benefits listed below, we also offer life insurance that builds cash value. These policies are often used as college savings or tax-free retirement income.
We offer many living benefits including
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Unemployment waiver of premiums. Your premium payments may be waived if you should become unemployed.
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Accelerated death benefits. If you are diagnosed with a critical or terminal illness, you can access your death benefit to help your family pay for medical and other expenses.
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Return of premium. Get some or all of your premiums back if you outlive the term of your policy.
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Disability income. You'll get a monthly income if you become disabled and unable to work.
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Children's term. Optional life insurance coverage for your children or grandchildren, which can ensure that they will qualify for life insurance later in life, no matter what health issues they may develop in the future.
To learn more about these and other benefits of our living benefits plans, please fill out our quote form.